Hello, it is impossible to use leverage in futures, or if leverage is used in futures, the trading volume is so small that you can't imagine.

For example, if an iron ore deposit is 10000 yuan, it will cost about 200,000 yuan to do it without leverage. How many people do you think can afford it?

Without leverage, it won't explode, but it will fall a lot. Moreover, futures have contract exchanges, and they will be closed or delivered in kind.

It is impossible to trade futures without leverage, at least in the current financial environment.